Marketing and Analytics: The Cornerstones of Success in E-commerce


The mother of all internet businesses, e-commerce is a constantly evolving segment. The galloping pace of evolution is certainly exciting and if you are looking to match steps, you must get a handle on marketing and analytics. These two are the cornerstones of success in the field of e-commerce. Unfortunately, many businesses do not give them due importance, realizing little that it will give their competitors a huge edge and the latter can easily become the go-to destination for customers.

Why are marketing and analytics important?

Probably, the reason behind the lack of interest is the inability of entrepreneurs to understand the significance of marketing and analytics in the success of their business. Well, the fact is that e-commerce is a highly competitive niche and the customers are spread far and wide, who can be only engaged through intensive marketing and quality service. The second reason is that multiple variables operate in the e-commerce sphere at the same time and to tap into their potential, businesses need correct analysis and reports. Last but not the least, the decision-making process of this segment demand quick thinking and detailed analysis.

So, which are the areas where marketing and analytics come into play?

Below is a detailed explanation.


Product/service offering


Your key offering i.e. products/services gives you great insights regarding consumer behavior and needs. Your product page is a source of huge data and you can dig into it to perform better. It will help you find out the satisfaction rate, identify the customer queries/interests, demographic specific demands, engagement density and many more things. You can also make a sales forecast on this basis, and modify your marketing and sales accordingly.


User experience


User experience plays a very important role in the success of your business and thus, it is important to understand what is engaging and annoying the user. The user related data, such as how much time they spend, how do they search, which is the best landing page, what holds their attention, reviews, etc. form a part of the analytics. It is studied to improve the user experience so that there are more conversions and your position is solidified as a brand.


Supply chain management


Supply chain management is an integral part of e-commerce, especially in retail, and it revolves around logistics. Logistics involves heaps of data related to pricing, transportation cost, human power, etc. In fact, this is one of the pillars on which e-commerce industry stands. It plays a key role in customer satisfaction and can make or break your operations. Therefore, only those businesses which manage this aspect skillfully can hope to flourish and make profits. And to manage logistics, nothing is more suitable than analytics.


Merchant management


Merchants are the lifeblood of e-commerce business. They need to be managed and engaged so that they can help you grow as a successful enterprise. With their numbers quite high, you need to employ analytics to track the dealings, their relative performance, ability to cater to a growing customer base and other variables. With insights gained from customers’ data, you can easily engage the merchants by offering them more contracts and rewards.


Fraud detection

E-commerce is not devoid of frauds and cheating. Since it involves online transactions, the chances of getting duped are quite high. It may come from the merchant’s side or in some cases even customers. Such cases need to be handled with tact and must also be tracked carefully. With analytics, it becomes a cakewalk to detect frauds and handle them.




E-commerce marketing is a lot about analytics. Be it SEO or AdWords spend or social media marketing, every business gets huge unstructured data on these fronts and needs to study them properly so as to get optimum return on investment. Even in terms of content marketing, one needs to analyze customer data to understand what is trending, what is being searched, which keywords are performing, what kind of content is impactful and other related things.

Bottom line

A strong data analysis framework is must for every e-commerce business as it helps you at every step in your business. And thankfully, there are many tools out there to help you in this regard. Available for free as well as at a price, these analytics tools help you a great deal in forging correct strategies for sales and customer engagement. Names like Google Analytics, KissMetrics, CrazyEgg are well-known for their efficiency and ease of use.

If you want, you can also develop personalized tools. You may need to hire an analytics expert to perform this task or you may choose to do it yourself. But if you do it yourself, you must possess great analytical skills. Whatever you invest in this area is bound to bear fruits and therefore, you must choose the right option, even if it seems costly.


Post By NeoGrowth Credit – Business Loans specially created for Retailers & Online Sellers

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Boost Your Sales with the Changes in Shopping Trends!


In the world of e-commerce, the orientation is always changing its position. Hence, as an owner of the business or being a marketing specialist, one will always need to be on his toes to make the trade stand firm in its position. In order to carry on with the uprising sales structure, the professionals need to be able to evolve, and look for changing the technology which will definitely sway the customers while sustaining the profit margins. It is also being predicted that the customers will be spending over 427 billion on online retail shopping. Thus, in order to increase the profit margins, maintaining such dynamic trends, then one needs to jump on these latest styles, patterns, and appearance for the upcoming conventions.

What changes can be seen?

With the continual connectedness, circumstantial pertinence and a multiple screen world, shopping trends are actually bringing about advancement in both the online and offline shopping methods. With this, it can be said that some appealing potentials are paving its way for traders who are willing to make the changing trends as their medium for moving ahead. Experts are stating how linking classic retail truths with digital acute can really encourage the retailers to do what matters the most to them that serve their customers in a better way.


These are few schemes, working on, which will really boost the sales higher up. Read on:

  • An Enhanced Mobile Shopping Acquaintance

Now, smartphones can rightfully be categorized under the essentials category. The consumers are utilizing them not only for texting or for browsing the internet but also for shopping purposes. Recent studies also emphasise that the mobile shopping trend is a trend that will be around for long. And to keep up with this ever increasing advancement, different brands will have to upgrade their mobile shopping mediums to provide a great experience to their consumers.

  • Personifying the shopping knowledge

According to research, it has been identified that personification provides a great opportunity to boost the sales figure.  Using data that deciphers the consumer behaviour and thereby presenting the consumers with related products will give a great push to the sales figure and thus attract high profits. However, this is just one process to personify the online shopping methods and these days many stores are adopting such features to upgrade their sales methods. Like they are personalizing various marketing emails and discount coupons for their customers. This is yet again one huge opportunity for online traders as big retailers are not yet subsidizing on it.

  • Elevated Consumers Impacts In Online Shopping

Shopping through online methods has become a quite abstract experience for the users. Customers mainly browse through their required products online, make decisions on any specific item, and clearly make a deal with the retailer silently, without even making anybody aware of its prospects and whereabouts. This is totally different with the experience that they have while buying an item from offline retail stores, where they would get sales representatives is they have any query about anything as such. In fact, the shopper can get through real interactions only when their encounters a problem right after the sale. Hence, the online markets are looking forward to providing real-time business interactions with their customers. Therefore, live chat features are being installed in the website or app itself to improve the shopping experience.

  • Aiming At Contents

Marketing mix doesn’t really limit itself to blog posts only. Many e-commerce stores strive with identifying their product topics they can display and write about on their specific blogs. However, they end up thinking that they might give up on content marketing rather than doing a scruffy job. Content marketing is a great way to attract the consumers by exhibiting the full details of the product and thus improving the shopping experience which does lead to better sales.

  • Providing Videos For Products

The important characteristics of most of the products which attract the customer’s attention are clear photography, subjective descriptions, perceptible specifications and product options. Product videos, despite such aspects, also turn out to be quite appealing for many of the customers. With this, the consumer tries to find more information about the product, thus increasing the sales margin of the company.

Other such methods include-

  • Rapid and timely delivery
  • Focusing on proper social media marketing
  • Enforcing e-commerce constructive sales forces


Conclusion- The online shopping trend is ultimately replacing the decrepit way of shopping. Not just one, now there are hundreds of thousands of online retail stores providing such aspects and guiding through a method of how to improve and enhance sales structure in such mediums of trade.


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A Legal Checklist for Every Business Owner


Starting your own business is like living your longtime dream but your dream easily becomes a nightmare when you think of the legal angle. Well, corporate law and legal paraphernalia can boggle the most sensible and sorted entrepreneurs. So, it is not a big deal at all if you are getting goose bumps but if you overlook the legal aspect or deal with it casually, you are bound to encounter troubles in future that may also destroy your dream forever. So, it is mandatory that you do your homework in this aspect.

Of course, it will take up a good deal of your time and energy but it will also ensure a rock-solid foundation for your enterprise. So, do not back out. Take the bull by its horns. To help you out, we have compiled a legal to-do list that every business owner must memorize.

  1. Select a name


It might seem very insignificant and many businessmen think that the company name is limited to thinking of something unique or catchy or cool. Well, coming up with a catchy name is certainly important for it affects you as a brand but legal implications are also associated with your entity’s name. First of all, you need to think of several names and then search the database of companies to find out if your proposed name is available or has been taken. Once you finalize a suitable name, you should get it registered with the appropriate authority. After this, you should go after the domain name. Google search to verify the availability and then register it through a domain service.

2. Choose the business structure/type


Whether you want to operate as a private limited company, sole proprietor, partnership, limited liability company (LLP) or in any other manner has to be decided beforehand. The company structure is a very important matter as it will have an impact on your liability, taxation, profits, succession planning and many more things. You should finalize it after taking the business nature, funding needs and risk involvement into account. To get more insights, do consult other businesses, lawyers or accountants.

3. Get license


No business can operate without a license and you need to get one from an appropriate authority in your city or state or town. You must know about the timeline, requisite documents, clauses and other related tidbits to procure the license. The license and permit laws are a little complex and you have to tread the territory carefully. So, you might need the help of an expert such as chartered accountant or corporate lawyer.

4. Create founder’s agreement


As is the trend, most businesses are helmed by two or more than two founders, who makes for a prudent strategy but it also makes complete sense to get everything in writing. You must put together a founder’s agreement in the proper way as soon as you go ahead with the setup formalities. The agreement must carry clear explanations regarding ownership, liability, intellectual property and other important matters. Consult a legal professional for best advice and notify all the owners before finalizing the draft.

5. File for patent/trademark

Many businesses, in the present times, revolve around an idea or intellectual capital which makes you vulnerable as well. The corporate world is full of cunning crooks who do not mind harvesting money from another’s concept. So, it is important to protect the core of the company. Your idea is a valuable asset and needs to be safeguarded under all conditions. So, whether it is the patent of your products or trademark of your logo, you must get things in place.

6. Get a business account

Finances are the lifeblood of a business and to ensure smooth running, it is very important that you do not mix personal and professional finances. So, get an account opened in the name of your business and make sure that all the professional transactions are made through it. It will also help you in getting tax benefits, concessions and other facilities provided by banks to businesses. You will also be saved from fines and other legal troubles.

7. Set up the contracts

A business enters into multiple contracts with multiple people and entities in order to operate successfully. They may be suppliers, agencies, clients, distributors, marketer, workers, etc. These contracts are loaded with legal obligations and you can be held accountable if you fail to follow them. So, it is important that you enter them after careful assessment. Do get legal help if you do not understand anything or are unsure and also learn some contract law.


The detailed to-do list mentioned above does seem challenging but if you want to become the showman of your niche, you have to master it. All the tasks are important and the sooner you finish them, the closer you will come to your dreamland.

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Savings Solutions: 5 Ways To Save Your Small Business Money


There is a very old proverb that says one should cut one’s coat according to the cloth, meaning one should plan things according to one’s resources which is really a sensible approach to adopt in every sphere of life. It holds great universal value but is most suited for a small business. Why? Well, such businesses are hard-pressed for resources and work in a volatile economic environment, marked by intense competition, which makes them quite vulnerable to failure and collapse.

To head off these setbacks, small scale enterprises need to follow a prudent approach. They need to be supervised minutely so that they can face the challenges and reach the milestone without any injury. And nothing can safeguard them better than savings which has always been hailed as the hallmark of prudence.

Savings- Importance and Benefits


For a small business, savings are as important as making profits. They are like those trusted old friends that stand by you in your hard times and help you sail through. You can count on them to take care of the emergencies that often come uninvited. Apart from this, savings are important because:

  1. It comes across as a good business habit that not only makes you more efficient but also helps in optimum utilization of resources. Financial discipline is a virtue for any business but for small enterprises, it is a necessity as it gives you better control and encourages risk-taking to expand your operations.
  2. It helps in further wealth creation. You can invest more in your enterprise with the savings you have made. You can hire more and better staff, purchase superior equipment, take more risks and also deal with bigger clients.
  3. It is easy to begin with and once you get into the groove, it becomes a part of your business ideology that guarantees quick access to liquidity in crucial times and also acts a safety net.


The Savings Tips


Savings are easy to make as there are various ways to cut the costs, without hurting the operations or compromising with the quality of your work. Here are five wonderful tips:

  1. Collaborate with competitors for supplies – This will help you get the discounts on bulk purchase like big businesses without having to place big orders. Most of the time, competitors have same needs in terms of supplies and it makes for a good savings strategy to check out in advance and bargain together. It can be for equipment, stationery, internet connection or just about any requirement that you have in common.
  2. Side with second-hand stuff – A fabulous savings measure, buying second-hand equipment/furniture lets you save big. There is no point in investing in a fancy coffee maker or chairs or computers when you can make do with used ones. So, go for the second-hand stuff but make sure they are in good shape otherwise the repair cost will render all the saving efforts null.
  3. DIY (Do It Yourself) – A very popular savings measure, DIY is also a skill that helps you cut down day-to-day expenses without much ado. As a small business owner, you will regularly encounter tasks which require you to hire people with small skills. For ex, repairing the loose wiring or tweaking images with Photoshop. If you take the rein in your hands you won’t have to pay the electrician or the designer. There are numerous YouTube tutorials to help you out in this endeavor.
  4. Offer low-cost incentives to high-performing employees – Employees are a huge asset for any small business. But it is quite challenging to keep them engaged through high salary and bonuses, which is very easy for big businesses. So, it makes sense to offer flexible working hours, recognition/reward, and business shares as incentives because they do not cost anything and bring great returns. They are not just popular with employees but also foster commitment and motivation.
  5. Outsource – A highly effective, popular and prudent cost-cutting strategy is outsourcing and it has helped many businesses. Instead of hiring full-time staff for every work, it is a smart approach to hire part-time or freelancing staff. For ex, you can deal with a digital consultant for social media marketing as an alternative to hiring a social media executive. It helps you save on salary, bonus, insurance and other overheads related to employees. Also, it brings you better expertise and varied experience.



Savings are the soul of every small businesses without which you cannot expect to flourish and find fulfillment. Practiced since centuries, it is a surefire success recipe that will always keep your business on track. Of course, it demands caution and homework on your part but every effort is worth it. By doing proper research, planning and micromanaging, you can easily build your safety net and growth engine.


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4 Steps to Building a Successful Online Store


So, you have decided to give your shop an online identity but still find it difficult to set the ball rolling. Don’t worry. You are not the only one going through the launching travails. Every entrepreneur goes through this situation. Even the premium players have experienced the grind and pondered over countless ifs and buts before making it to the top ranks. Hence, all you need to do is set aside the worries and get going with the task at hand.

To help you out, we will tell you about 4 simple and effective steps to get going. Following them, you can easily begin operations. These steps are tailor-made to suit an exclusive online store as well as a physical store looking to expand with an online avatar.

Research and regard your customers

Customers are the lifeline of every online business and if you want to sell more and attract more footfalls then you have to look at things from their perspective. From the look of your e-store to the shopping cart to subscription pop-ups, everything should be customer friendly. It must load fast and the customer should find it convenient to navigate through your site while looking for different items. The entire process, from arrival to checkout, ought to be seamless and simple. You must make sure that the site’s aesthetics and functionality go hand in hand. Just go through a shopping trial on a site that you find exemplary and incorporate all the desirable traits in your e-store.

Focus on product images


Studies have proved that visuals grab quick attention. They also possess higher engagement value. So, it is important to make sure that your products have good display. It will easily enamor the customers and help you to sell more. Your e-store should look like a well decorated physical store with all items showcased properly. Add zoom-out, side display, back display and other features to the images as it enhances their value. Also, write good copy for the products with complete information and catchy titles. Keep the search terms and keywords in mind as well.

Incorporate customer reviews


Customer reviews play a key role in increasing sales. They act as credible sales pitches which customers value greatly. So, if you want visitors to loosen their purse strings you should make space for reviews. Showcase the star ratings, testimonials and words of praise on your site, below or alongside the products. Do not be afraid of criticism or negative feedback. But if you want to obliterate it altogether, switch on the filters that track negative reviews or allow for review via the email method only.

Market intensively


E-commerce is a highly-contested niche and there are scores of competitors vying for the same target customers. So, you have to be proactive and market aggressively to get your store noticed. Luckily, you can rely on the multi-pronged online marketing and you should never underestimate its power. To make the most of this strategy, it is suggested, you go whole hog. Utilize every marketing tool like social media (esp. Instagram, Pinterest because they are images-oriented) SEO, Google AdWords (be discreet as it is expensive), content marketing, emails/newsletters, YouTube videos, etc. to grab the eyeballs. It is completely worth it and results in sustainable traffic as well as more sales.

Important points to keep in mind

  1. Do not waste time being a perfectionist. Launch quickly because there is nothing like the perfect time or right time. Set up a time-limit for the research, cover all the aspects within the same and set the ball rolling.
  2. Pick up an easy-to-use and customer friendly shopping cart as it impacts the customer experience. It has an important role in driving sales and profits. There are many options like Shopify, WooCommerce, Magento, Big Commerce, WP EasyCart, OpenCart, Prestashop to choose from.
  3. Keep it lean in the initial phase and do as many things yourself. This will make sure that your financial resources are not unduly stressed and you can also save a fair deal.
  4. Watch out for your competitors and always keep an eye on their innovations and strategies. You do not have to copy them but if they help to enhance sales without affecting your brand value, you can certainly take recourse to them.
  5. Last but not the least, keep doing regular analysis of your performance. Modify the strategy as per the results and always focus on the target that you have set for your business.

Bottom Line

An online store has huge potential for growth because e-commerce is a cost-effective and simple business model. It is very popular and is being used by thousands of entrepreneurs, all over the world, to earn profits and make a name for themselves. So, just follow the steps and tips we have mentioned above and get ready to join the coveted league.

Post By NeoGrowth Credit – Business Loans specially created for Retailers & Online Sellers

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Finance and Bookkeeping Apps Your Small Business Needs to Succeed

Importance of financial mobile apps to Business:

Challenges related to finance and accounting are faced by every small business. Be it related to finance or book-keeping, these obstacles are encountered by all. Great care and utmost caution are required while dealing with these factors as even a small accounting error may cause a multiplied effect on the balance sheet as a whole. Now, the best way that one can employ to deal with these challenges is by preventing it in the first place. And the best way to combat these obstacles include developing a system and standards, using an integrated software system that needs less manual entries, using versatile cloud-based accounting software system, educating yourself on accounting, tax and accounting problems, and partnering with a certified public accountant.

One can keep a tab on finance, accounting and book-keeping using apps on their mobile phones or tabs. Let us take a look at some useful and handy finance and book-keeping apps for your small business:

1. Zoho Books


Zoho Books organizes and manages all of your business transactions. You pay less time invoicing and chasing due payments. On-line payments offer the advantage and convenience to encourage faster payments. With Zoho Books, you’ll be able to simply keep a record of all of your estimates, invoices, credit notes, and continual invoices. Convert estimates to invoices in just a click, and with the filter you can also trace invoices which require your attention.

Zoho Books is stress-free and an easy-to-use accounting app that tracks the cash incoming and outgoing of your business. With Zoho Books, you’ll continually keep up-to-date on your business finance and create choices instantly. Some of features include-

  • Sales – Manage Money Coming In
  • Purchases – Manage Money Going Out
  • Purchase Order
  • Banking
  • Quick widgets
  • Tax Exclusive / Tax Inclusive rates
  • Invoice Templates
  • Track time accurately
  • Download and Print Reports
  • Accept Online Payment
  • Add Attachments and Receipts


2. QuickBooks Online


QuickBooks makes accounting, billing, and payments as simple as a breeze. Run your entire business with this small business cloud accounting solution and enjoy the liberty of operating at any place from your smartphone or tablet. Some of the benefits of using this app are-

  • Create and send professional looking invoices and estimates
  • Get paid faster by sending invoices with a Pay Now link
  • Receive payments directly on an invoice via credit card
  • Do business in multiple currencies using the latest exchange rates
  • See overdue invoice notifications to make sure everyone’s paying you
  • Manage expenses, sales and customers on the go


3. Freshbooks


FreshBooks enables you to create Professional Invoices in seconds. You can create professional-looking invoices complete with your own logo. When you’re ready, simply print off your invoice or email it to your client in a snap. It is exclusively designed for Small Business Owners

  • Create and send professional-looking invoices and estimates
  • Easily capture and manage expenses on the go
  • Turn on the timer while on the clock for your client and never lose another billable second again
  • Your FreshBooks account is accessible everywhere, on all your devices, to let you work from where ever you want and whenever you wish to
  • Your data is backed up and secure across multiple data centers, behind a firewall with 256-bit encryption – that means if you ever lose your phone, all your data remains intact.
  • The cloud accounting saves your time and helps you get paid faster.


4. Tally


This app is a tool to keep up business or personal accounts on android device in “Tally Way”.

A person having no knowledge of accounting can also utilize this tool as it is very simple and user friendly. This app makes it very simple to manage day to day accounting transaction on a mobile or a tab. The screens and operations resembles known Indian accounting package “Tally”.  Even zooming is additionally provided, i.e. from final report one can reach till voucher entry.

Some of the features are –

  • Creation of Masters for all sort of Accounts like Capital, Assets, Debtors, Creditors etc. Entering and maintaining Daily Transactions like Payment, Receipt, Sales and Purchase. Contra entries to manage cash deposited or withdrawn from bank. Journal Vouchers for cross account entries and final settlement entries.
  • Generates Reports like Daybook, Ledger, Registers, Trial Balance and Final reports – Balance Sheet, Profit & Loss Account.
  • Data is always backed up and used from the device itself. But for safety, user can take a backup in a company wise manner and store it at a desired location or can directly mail on his own mail-id. So, in case the user has formatted his phone, there is no accidental loss of data.


We @NeoGrowth Credit help online sellers & retailers grow their business by providing business loans.


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Business advice for Entrepreneurs

Entrepreneurs are people who spot pain points in the way we go about our daily routines and launch businesses to fill these gaps, thereby giving rise to a business model. Entrepreneurship involves taking a lot of risk to create something new from scratch. However, entrepreneurship comes with its own unique set of hard challenges. The uncertainty of miscalculating an opportunity could lead to a situation when unfortunate events occur. Further other risks associated with being an entrepreneur include building a brand with no established credibility and failing to innovate or keep up with the needs of your target market, misguided marketing strategies, bad hiring decisions and the pressure to maintain a steady flow of customers.

The path to stabilizing a business and being successful goes through a series of slip-ups and mistakes. However the difference between letting go and riding the toughest times can be taking inspiration from people who have successfully gone through these phases. Some of these successful people include Bill Gates, Mark Zuckerberg, Steve Jobs and Carlos Slim.



Bill Gates dropped out of Harvard and a year later co-founded Microsoft, the Company that would eventually make him the world’s wealthiest man. Bill Gates says entrepreneurs need to have a keen eye for detail and never lose track of his team. Gates believed that as the scale of operation of your business grows, more employees will come on board and it is essential to keep a close eye on the team and the Company’s output. Bill Gates also puts a lot of importance on criticism, which if taken correctly can turn into an area of strength for your business. Criticism from customers and clients is vital to moving a business forward and helps companies improve their product offerings.


Mark Zuckerberg, who has built Facebook into one of the world’s leading internet businesses, opines that it is essential to think long term and to understand that one cannot tackle all the problems by themselves. It is imperative to find and build a team with the right set of people who can complement you and focus on different sets and different scale of problems. Zuckerberg also believes that entrepreneurs should go after the hard problems and not to lose sight of that target and settle for something easy in the process. If the business solves a fundamental problem, it would be worth the time and effort that people have put in it.


One of the foremost and greatest entrepreneurs of our time, Steve Jobs, the man who built Apple into the most valuable company in the world was a firm believer of perseverance. According to Jobs, the differentiating factor between the successful and non-successful entrepreneurs is purely based on how well one persevered.

An entrepreneur can think of and have the greatest idea in the world, but it is his perseverance and persistence that takes him a long way towards achieving what he dreamt of.  Also, according to Jobs, the more you love your dream and make it your passion; the more likely it is that you will succeed in your endeavours. He believed that success for an entrepreneur is dependent on how determined you are in attaining your dreams.


Carlos Slim, one of the world’s richest people, has been an entrepreneur since a very early age.  According to Slim, it is the essential things that add value to any proposition. So, more focus should be placed on these essentials, rather than on factors that tend to slower the pace. These road blocks will surely not add any value.

He firmly believes that when an entrepreneur and organization has a clear and focused growth strategy supported with strong execution infrastructure, they are bound to taste success.


India’s richest man, Mukesh Ambani, believes that it is essential to dream big and focus on growth. Growth through focus is the right strategy to adopt when you are growing your business. Having a dream and working towards it is the most essential thing for any business. This also helps entrepreneurs overcome obstacles that come in the way of achieving their dream and growing. He believes that there is no substitute for hard work and there are no shortcuts to success.

So there it is – five bits of advice from some of the most successful entrepreneurs in today’s world. Follow them and internalise them in your respective business systems – success is bound to follow!


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Essential Business Tips to Secure Funding for Small Businesses


Starting a business is a very special experience for any entrepreneur. Exciting and challenging in equal measure, it provides you with invaluable lessons on life and people. The journey is enthralling to say the least and keeps you engaged every second. But the first challenge that you encounter on your way to becoming an entrepreneur comes in the form of funding.

Securing funding is a difficult task for any business. The market is afloat with startups and banks are quite strict about lending, given the recessionary after-effects that are still visible. So, how do you set up your dream?

 Ongoing funding needs for small businesses


First thing first, you should evaluate the funding needs for your business. It will help you create a strong business plan and you can pitch your idea to the investors very convincingly. Initially, funds are mainly needed to serve as paid up capital, authorized capital and to spend on registration and legal formalities. The ongoing funding needs mainly revolves around office space, equipment and hiring employees. When you get off the ground, you need more funds to expand your wings. Also, you require enough funding to meet contingencies and keep your business going during the tough times.

 Typical lending requirements


Small businesses are lucky to have multiple lending options in the form of banks, venture capital (VC) firms, angel investors, credit unions, companies specializing in lending to small businesses, crowd funding, sponsorship, grants and incubators. Your own savings and loans from friends or family can also provide you with the seed funding.

The former are business-oriented organizations and people and hence, they follow certain procedures. You would be required to complete legal formalities and comply with certain terms and conditions before getting the money. Some typical lending requirements are:

  • Good credit score and clean credit history – This is most important in case of banks as they give credit scores and credit history major importance while processing your application. Same applies for credit unions and lending companies. All of them want a guarantor and rigorously scan your credit history for defaults.
  • Collateral – Your property or security is also taken into account by banks, credit unions and lending firms. Since it is a strong indicator of your ability to repay the loan, these lenders evaluate it meticulously.
  • Detailed business plan – Important to all, business plan holds more significance for angel investors and VCs. They have a rigorous screening method and they study the details minutely. So, your business plan has the ability to make or break your chances of securing the funding.
  • Personal resume – Again, more significant for VCs, angel investors and sponsors than banks or credit unions, your resume helps create the right impression and win the trust of the lenders. It is a reflection of your business ability and managerial skills to run your enterprise successfully.

Tips for securing funding

No matter which lender you go to, you should be confident and mindful of certain things. The following tips are highly helpful in making a strong case for getting the funds.

  • Research all the funding options – With so many lending options out there, you have a vantage point. Now, you should aim at finding that lender who will give you the requisite funding at conditions, interest rates and restrictions that are favorable for you and your business. Also, you should look at the lender as a prospective guide who can help you in your journey.
  • Keep it lean in the beginning – Always keep a strict eye on your expenses at the start. Tread cautiously and always think in terms of return on investment while making any purchase. Don’t go overboard with spending on fancy office or extravagant business trips. Always try affordable and economic options.
  • Ask for the right amount of money – Both over capitalization and under capitalization are dangerous. So, evaluate what stage your business is at and how much does it need within the stipulated timeline to reach the goals. Be realistic and think long term before finalizing the figure. Lenders are wary of small investments as they offer less returns while big ones put you at risk.
  • Work on creating a great business plan – Your plan is the deciding factor while securing funding. So, incorporate exact figures, up-to-date research, realistic projections and engaging sales pitch in your plan. Present it confidently and communicate your vision with conviction.

@NeoGrowth Credit we provide no collateral, quick & simple documentation which is the easiest way for getting a business loan!

Post By NeoGrowth Credit – Business Loans specially created for Retailers & Online Sellers

For more Information – email us on

Or Give Missed Call @ 08080861166


What You Need to Know About a Small Business Loan Application


What is Small Business Loan Application?

At some point of time in your business you wish to expand it with new product line, new employees, new location, new machinery, inventory management, warehousing etc. It is thrilling but also stressful because you may not have enough cash reserves to copeup the expansion. This situation demands for small business loan– a cash infusion that pays for itself inclusive of interest, with the new opportunities and extra income it allows you to create. Lender provides loan to small businesses for various purposes. The requirements vary business to business generally it is less restrictive which enables the small business to secure their funds. The borrower may get benefit of incentives provided by the small business loan, which could minimize expenses for the business.

Before applying for a small business loan it is important to be prepared for its application process. Though every bank has its own requirements and procedures but many documents are obligatory across lenders.Whether you are seeking a loan to commence a new business or already run a successful business, the requirement of documents doesn’t differ much. However, the supporting criteria might be different. Not all lenders ask for the same information. Some pieces of information they could request include a plan for how the money will be used, your credit history and a verification of your income and assets.

Common slip-ups the entrepreneurs make when submitting documentation are providing incomplete tax returns (often lacking the required schedules) and incomplete or wrong personal financial statements.

Both small and large Banks often have similar lending criteria.  Many big banks refuse the startup loans request because small business owner fail to provide 3 years’ worth of financial data.  In such circumstances, smaller, regional banks and credit unions may be more promising.  Even though it can be easier to obtain a loan from an alternative lender, you still have to provide them with an array of personal, business and financial information0.

Both the banks and the non-bank lenders have pros and cons but the question is how do you decide which is the right one for you? Let’s discuss them separately

 Benefits of opting for a Non-Bank lender?

  • Competitive rates- Non banking institution offer very competitive rates andcan also be a cheaper option comparatively
  • Flexibility- They often have flexible lending criteria,with which the credit rating is on the low side
  • They have low set up and ongoing costs.
  • They often understand your specific needs and requirements and offer the solution
  • Personalized customer service and variety of niche loan products to suit individual requirements like apparel, optician, pharmacies, groceries, salons etc.

Benefits of opting for a Bank lender?

  • Generally Banks are more recognizedand established financial institutions and hold the majority of the market when it comes to mortgages.
  • Ease of access- Many of us find it easier to manage all the finances under one roof, but you should always do market research as you may find better deal which save your time and cost in ling run


Neogrowth as an option for small business loan:

Neogrowth offers an innovative loan product highly suited for the Retail and SME businesses. NeoGrowth gives loans against future credit card and debit card sales to retailers. The repayment is based on the business cycles and there is no fixed EMI.

Neogrowth simplifies the small business loan application process-

  • Key Eligibility Criteria
    • Business operations of > 6 months
    • Average monthly sales over INR 2 lacs per month
  • Documentation requirements:
    • Last 6 months bank statement (showing card payment settlement/remittances from marketplaces)
    • PAN Card ( business)
    • Address proof ( Residential & business) – Passport, Voter’s id, rent agreement, Adhaar card
    • VAT certificate of the business


How Neogrowth is different from others:

Neogrowth understands your requirement and following points separates from others:

Flexible Repayment Tenure

  • Based on merchant’s average card sales/ online sales in the past, NeoGrowth forecasts a projected timeline for repayment of the lump sum amount.
  • No penal charges for any tenure extension

Partnership Model

  • No fixed EMI repayment schedule
  • Repayment dependent on the volume of business in a month
  • The repayment is automatic and flexible

Hassle Free loan disbursement

  • The merchant would never need to visit NeoGrowth office. NeoGrowth’s sales team comes to the merchant’s assistance at his doorstep
  • Easy and simple paper work
  • NeoGrowth believes in minimum documentation only to oversee the current state of business.

Pre-closure facility

  • Merchant has the option of pre-closure at any stage without any penal charges


Post By NeoGrowth Credit – Business Loans specially created for Retailers & Online Sellers

For more Information – email us on

Or Give Missed Call @ 08080861166


Online Selling Tips – Simple Things That Can Help You Big Time in Making Profits Online


The Ecommerce sector in India has seen a rapid growth. The growth has been driven by many factors like increasing use of devices such as smartphones, tablets, notepad and ofcourse the most important is the adoption of technology led by ease of access to internet through 3G, 4G, broadband, etc.

The success of your online business depends on your customer expectations. Understanding your customer need and preferences can either make or break your business.It also affects the repurchase decision and customer loyalty. Online customer expects the easiest experience possible, and if you aren’t providing that for them, probabilities are that they will switch to competitor for future purchases. Following are some Online selling tips you should keep in mind to boost your e-commerce business and keep your customers happy.

1. Build a quality Website:


To create a valuable source of information “Website” it is very essential that the goals, content, structure, design, programming, and maintenance is defined clearly. What one needs is expertise—constantly. Make sure that website is simple to understand and reflects the objective of the business.A high quality website needs lots of effort and commitment.Simple navigation and easy shopping experience makes the customer happy, also assures the re-visit or repetitive purchase. Make sure that website is fast because every second it takes time to load your webpage – you lose one impatient customer, therefore a good server is also a part of high quality website. Tip – use for building websites which look awesome , are feature rich and load super fast.

2. Think Cross device:


Today the customer is tech savvy; they use different smart devices like mobile, tablet, i-pad, notepad etc. so you should always aim at providing consistent shopping experience across all the different devices.  So don’t restrict only to desktop or laptop, think about cross device platforms. Tip – use the Google mobile speed optimization tool to test if your website is actually a cross device website.

3. Select the right Ecommerce software:


It is very important that you choose the right ecommerce software for your business; it can differ from business to business. Now a days launching and running the online is much easier but choosing the right ecommerce platform is tricky. Therefore pick one of the most standard e-Commerce platforms available today, and begin experimenting with it – until you find something that clicks and you right away.

Tip – use shopify which has been built keeping non-technical e-commerce owners in mind.

4. Provide fine quality product images and detailed description of each product:


Before reading your unique and appealing product descriptions, your customer is going to look at the images for your product. So, spend some serious time taking quality photos of your products before you list that product for sale. Make sure that you provide product details to tell the customer everything they need (or want) to know about this item. This is chance to close the deal! Tip – use free stock image sites to download the marketing related images you want for your ecommerce website.

5. Customer service:


The common factor of all the prosperous businesses is that they are committed to providing their customers with a great service i.e. it’s about putting the needs of the customer in everything your business does – from the products, to the website, to the delivery. Tip – use to help you with your web based customer service.

6. Focus on the delivery experience:

Online customer expects the hassle free and fast delivery for their products. The delivery strategy include many things like price you charge for delivery, service or benefits you offer, how will parcel look etc., It is worth investing in all these areas.

7. Think like paytm :

Repeat business always plays a crucial part in success of any online business. Give your customers a reason to return to your store by updating things regularly like adding new products, providing occasional sale, promotional sale etc. As a marketing tactics you can also offer an incentive to your clients to leave reviews of products on your website with a giveaway e.g. Win a Rs 500 voucher for the best review. Tip : Get inspiration from Paytm


These are few Online selling tips which can help your online business to grow. Every business demand different and effective online marketing strategy. One needs constant optimisation for better results. You need to work hard to build the trust of your customers. Trust needs to be built into every interaction the customer has with your business which covers customer testimonials and reviews on your site, deliver on your etc. Furthermore if you deliver a service that exceeds customer expectations, you can bet they will come back to buy again, and tell all their friends about the experience.


We @NeoGrowth Credit help online sellers & retailers grow their business by providing business loans.


Post By NeoGrowth Credit – Business Loans specially created for Retailers & Online Sellers

For more Information – email us on

Or Give Missed Call @ 08080861166